Violation Tracker Individual Record

Company: 
Student Loan Xpress, Inc.
Current Parent Company: 
CIT
Penalty: 
$112,825,000
Year: 
2009
Date: 
October 27, 2009
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
consumer protection violation
Violation Description: 

In order to resolve multistate litigation, Student Loan Xpress, Inc. agreed to provide $112.7 million in debt relief to students who paid for helicopter flight instruction they never received. It also agreed to pay the states $125,000 for legal costs.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Link to Archived Court Document: 
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.